• 9 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes The EU Loses The Principles On Which It Was Built
  • 19 minutes Batteries Could Be a Small Dotcom-Style Bubble
  • 54 mins Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 7 hours Saudi PIF In Talks To Invest In Tesla Rival Lucid
  • 2 hours How To Explain 'Truth Isn't Truth' Comment of Rudy Giuliani?
  • 6 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 5 mins Starvation, horror in Venezuela
  • 7 hours China goes against US natural gas
  • 7 hours Western Canada Select price continues to sink
  • 6 hours Corporations Are Buying More Renewables Than Ever
  • 4 hours Are Trump's steel tariffs working? Seems they are!
  • 15 mins The Discount Airline Model Is Coming for Europe’s Railways
  • 4 hours Is NAFTA dead? Or near breakthrough?
  • 5 hours China still to keep Iran oil flowing amid U.S. sanctions
  • 5 hours Saudi Fund Wants to Take Tesla Private?
Alt Text

This Is Why Canada Lost The LNG Race

Just recently, it seemed as…

Alt Text

Is Mexico Set To Boost Oil Output?

Mexico’s president-elect is determined to…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Oil Prices Set To Rise In 2017 On Balancing Markets

Eco

Friday December 23, 2016

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. Dollar rally at a turning point?

(Click to enlarge)

- The U.S. dollar has rallied to its strongest level in more than a decade in recent weeks, as the uncertainty surrounding the presidential election disappeared and the Federal Reserve hiked interest rates. The Fed also suggested that the strong labor market could warrant further rate tightening in the quarters ahead.
- At the same time, economic weakness, political uncertainty, and a spate of terrorist attacks in Europe are all weighing on the euro.
- The strong dollar is putting downward pressure on crude oil prices, making oil more expensive for much of the world and thereby pushing down demand. The dollar is offsetting strength in the oil market stemming from the OPEC deal.
- The dollar rally came to a halt in mid-December, reversing somewhat.
- The big question mark will be U.S. policy in the Trump administration. Businesses are confident about prospective tax cuts, but excessive spending could fuel inflation.

2. China’s LNG imports spike

(Click to enlarge)

- China imported a record level of LNG in November – 2.66 million…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News